American Rare Earths completes 2021 Technical Report on Searchlight Rare Earths Project in Nevada

American Rare Earths Ltd (ASX:ARR) has released its 2021 Technical Report on the recently acquired Searchlight Rare Earths Project in Nevada, which is a unique project, unusually endowed with high value magnetic and heavy Rare Earth Elements (REE). The project consists of 80 contiguous unpatented lode mining claims, prospective for rare earths, totalling 1620 acres (656 hectares), with initial sampling identifying the widespread distribution of significant REE mineralisation. Surface samples with significant REE grades include: TREE: 14,800 parts per million (ppm); HREE: 940 ppm; and Magnetic REE: 3,320 ppm. In addition, the company obtained petrographic analysis of the rock samples, with Sample TH-01 showing significant iron staining, with a microscopic description of: Major mineralogy: Quartz 30%, sericite 22%, plagioclase 18%, calcite 12%, goethite/hematite 12%, monazite 3% and chlorite 3%; and Trace mineralogy: Rutile, manganese oxide, leucoxene, zircon, calcite. “Adds to diversified portfolio” The project is unique in that it contains high grade values of heavy rare earths in addition to high grades of elements used to make high intensity magnets – and Heavy REE deposits are rare and critical for the green energy economy. ARR managing director Keith Middleton said: “The Searchlight REE Project (Nevada) is the perfect complement to the company’s existing portfolio of rare earths projects in the US. “The La Paz Project (Arizona) and the Laramie REE Project (Wyoming) are deposits that both offer high value magnet REEs, scandium and potentially other critical minerals - without significant penalty elements. “The robust Searchlight Heavy REE project, which also contains high value magnet REEs, is an excellent complement offering an attractive, diversified rare earths portfolio package to investors and potential offtake partners seeking REE raw materials.”   Mining friendly jurisdiction Notably, all three of the company’s projects are in mining friendly jurisdictions. Middleton said: “Global rankings of mining jurisdictions according to the Frasier Institute have Nevada ranked as number one and Arizona ranked as number two for ‘Overall Investment Attractiveness for mining’; and Arizona ranked number one and Nevada ranked number two for ‘Mineral Potential’. “Wyoming, historically known for robust oil, gas and coal production, sees REEs as the future of the resource economy of the state. “The Biden Administration, and other western leaders, have prioritised the need for REEs to be sourced from responsible and secure supply chains- excluding China. “The company continues to position itself well as we advance the projects toward its main goal of increasing enterprise value for investors.” Searchligh REE Project location map Exploration to drive development The report details that the development of a high-value HREE resource on the Searchlight Property is possible with a carefully planned, properly executed exploration program. Key notes include: Radiation detection instruments are useful in locating the REE because of the associated radioactive thorium; Sampling and mapping completed to date indicates that these are structurally controlled vein hosted apatite-monazite deposit(s); Due to extensive shallow alluvial cover over much of the property, potential exists for the occurrence of other high REE grade veins in these covered areas. On the adjacent Red Hill Energy property this also appears to be the case; several mineralized structures have been discovered to date; Additional more detailed mapping and sampling and trenching in the shallow alluvium are likely to delineate more REE rich structures; and Scandium also occurs on the property in two locations that assayed 20 parts per million in both locations. Next steps The physical and analytical results from the report have provided direction to the company for additional geological mapping and geochemical sampling across the Searchlight Project area. A phased exploration program is being developed to better define potential REE targets, including structural mapping, geochemical sampling, aerial geophysics, trenching and eventual drilling. The report recommended the company (and its wholly-owned subsidiary WRE) conduct the following near-term tasks: Conduct detailed geological mapping and sampling to better delineate REE bearing vein and fracture structures to define trenching/drilling targets.; Complete a ground/drone radiation survey over alluvial covered areas to delineate radiometric trends to define trenching/drilling targets; Pending these results, permit a trenching program under the less –than-5-acre NOI permitting process; and If trenching is successful, reclaim trenches and permit a less-than-5-acre NOI drilling program.